I have reported $6800 income on a rental property and have entered $5000 in rental expenses, mainly repairs and utilities.. Turbo Tax lets me enter it all, but at the end shows me with $4000 in net income, rather than $1800.. (I've rounded the numbers for simplicity sake.) TT gives me no error message, but nothing I do results in my getting the full benefit of my expenses. On a separate rental property, the numbers are as expected. Any ideas?
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i find it strange that you mentioned nothing about depreciation expense. about how much is depreciation?
about how much is your adjusted gross income?
Not to worry. I figured it out.
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